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Indian Black Money
In India, black money is funds earned on the black market, on which income and other taxes have not been paid. Also, the unaccounted money that is concealed from the tax administrator is called ''black money''. The black money is accumulated by the criminals, smugglers, and tax-evaders. Around ₹22,000 crores are supposed to have been accumulated by the criminals for vested interests, though writ petitions in the supreme court estimate this to be even larger, at ₹900 lakh crores. The total amount of black money deposited in foreign banks by Indians is unknown. Some reports claim a total of US $10.6 – $11.4 trillions is held illegally in Switzerland. Other reports, including those reported by the Swiss Bankers Association and the Government of Switzerland, claim these reports are false and fabricated, and the total amount held in all Swiss bank accounts by citizens of India is about 2 billion. In February 2012, the director of India's Central Bureau of Investigation s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Havens
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. The first known taxation took place in Ancient Egypt around 3000–2800 BC. A failure to pay in a timely manner ( non-compliance), along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labor equivalent. Most countries have a tax system in place, in order to pay for public, common societal, or agreed national needs and for the functions of government. Some levy a flat percentage rate of taxation on personal annual income, but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Direct Investment In India
A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct control. Broadly, foreign direct investment includes "mergers and acquisitions, building new facilities, reinvesting profits earned from overseas operations, and intra company loans". FDI is the sum of equity capital, long-term capital, and short-term capital as shown in the balance of payments. FDI usually involves participation in management, joint-venture, transfer of technology and expertise. ''Stock'' of FDI is the ''net'' (i.e., outward FDI minus inward FDI) cumulative FDI for any given period. Direct investment excludes investment through purchase of shares (if that purchase results in an investor controlling less than 10% of the shares of the company). Foreign direct investment in India is a major monetary source for economic devel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Consortium Of Investigative Journalists
The International Consortium of Investigative Journalists, Inc. (ICIJ), is an independent global network of 280 investigative journalists and over 140 media organizations spanning more than 100 countries. It is based in Washington, D.C. with personnel in Australia, France, Spain, Hungary, Serbia, Belgium and Ireland. The ICIJ was launched in 1997 by American journalist Charles Lewis as an initiative of the Center for Public Integrity, with the aim of exposing international crime and corruption. In 2017, it became a fully independent organization and was later granted 501(c)(3) nonprofit status. The Panama Papers were the result of a collaboration with the German newspaper ' and more than 100 other media partners, with journalists spending a year sifting through 11.5 million leaked files from the Panama-based law firm Mossack Fonseca. It culminated in a partial release on 3 April 2016, garnering global media attention. The set of confidential financial and legal documents in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TheGuardian
''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. Since 2018, the paper's main news ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Le Monde
''Le Monde'' (; ) is a French daily afternoon newspaper. It is the main publication of Le Monde Group and reported an average circulation of 323,039 copies per issue in 2009, about 40,000 of which were sold abroad. It has had its own website since 19 December 1995, and is often the only French newspaper easily obtainable in non-French-speaking countries. It is considered one of the French newspapers of record, along with '' Libération'', and '' Le Figaro''. It should not be confused with the monthly publication '' Le Monde diplomatique'', of which ''Le Monde'' has 51% ownership, but which is editorially independent. A Reuters Institute poll in 2021 in France found that "''Le Monde'' is the most trusted national newspaper". ''Le Monde'' was founded by Hubert Beuve-Méry at the request of Charles de Gaulle (as Chairman of the Provisional Government of the French Republic) on 19 December 1944, shortly after the Liberation of Paris, and published continuously since its first ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investigation Division Of The Central Board Of Direct Taxes
The Investigation Division of the CBDT, abbreviated as Inv-CBDT, is the revenue enforcement agency of the Central Board of Direct Taxes, Government of India. It functions under the Department of Revenue in the Union Ministry of Finance and is concerned with the collection and administration of, as well as enforcement and prosecution of cases related to, the various direct taxes accruing to the Union Government The Government of India ( ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, .... Functions 1. Processing of complaints regarding evasion of tax; 2. All matters relating to administrative approval for filing, dropping or withdrawing of prosecution cases in respect of offences mentioned in Chapter XXII of the Income Tax Act and corresponding provisions in other direct taxes; 3. All technical and admini ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interpol
The International Criminal Police Organization (ICPO; french: link=no, Organisation internationale de police criminelle), commonly known as Interpol ( , ), is an international organization that facilitates worldwide police cooperation and crime control. Headquartered in Lyon, France, it is the world's largest international police organization, with seven regional bureaus worldwide and a National Central Bureau in all 195 member states. Interpol was conceived during the first International Criminal Police Congress in 1914, which brought officials from 24 countries to discuss cooperation in law enforcement. It was founded on September 7, 1923 at the close of the five-day 1923 Congress session in Vienna as the International Criminal Police Commission (ICPC); it adopted many of its current duties throughout the 1930s. After coming under Nazi control in 1938, the agency had its headquarters in the same building as the Gestapo. It was effectively moribund until the end of World War ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bharatiya Janata Party
The Bharatiya Janata Party (BJP; ; ) is a political party in India, and one of the two major Indian political parties alongside the Indian National Congress. Since 2014, it has been the ruling political party in India under Narendra Modi, the incumbent Indian prime minister. The BJP is aligned with right-wing politics, and its policies have historically reflected a traditional Hindu nationalist ideology; it has close ideological and organisational links to the Rashtriya Swayamsevak Sangh (RSS). , it is the country's largest political party in terms of representation in the Parliament of India as well as state legislatures. The party's origins lie in the Bharatiya Jana Sangh, which was founded in 1951 by Indian politician Shyama Prasad Mukherjee. After The Emergency of 1975–1977, the Jana Sangh merged with several other political parties to form the Janata Party; it defeated the then-incumbent Indian National Congress in the 1977 general election. After three year ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HSBC
HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA), respectively. HSBC traces its origin to a hong in British Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991; its name derives from that company's initials. The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866. HSBC has offices in 64 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 40 million customers. As of 2022, it was ranked no. 38 in the world in the Forbes rankings of large companies ranked by sales, pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Times Of India
''The Times of India'', also known by its abbreviation ''TOI'', is an Indian English-language daily newspaper and digital news media owned and managed by The Times Group. It is the third-largest newspaper in India by circulation and largest selling English-language daily in the world. It is the oldest English-language newspaper in India, and the second-oldest Indian newspaper still in circulation, with its first edition published in 1838. It is nicknamed as "The Old Lady of Bori Bunder", and is an Indian " newspaper of record". Near the beginning of the 20th century, Lord Curzon, the Viceroy of India, called ''TOI'' "the leading paper in Asia". In 1991, the BBC ranked ''TOI'' among the world's six best newspapers. It is owned and published by Bennett, Coleman & Co. Ltd. (B.C.C.L.), which is owned by the Sahu Jain family. In the Brand Trust Report India study 2019, ''TOI'' was rated as the most trusted English newspaper in India. Reuters rated ''TOI'' as India's most trus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Market
A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making long-term investments. Financial regulators like Securities and Exchange Board of India (SEBI), Bank of England (BoE) and the U.S. Securities and Exchange Commission (SEC) oversee capital markets to protect investors against fraud, among other duties. Transactions on capital markets are generally managed by entities within the financial sector or the treasury departments of governments and corporations, but some can be accessed directly by the public. As an example, in the United States, any American citizen with an internet connection can create an account with TreasuryDirect and use it to buy bonds in the primary market, though sales to indiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
